Canadian Savings Bond fraud victims reimbursed by Bank of Canada
Tuesday, April 11th, 2006
Categorized as: Yesterday's News (old post archive)
According to CBC news, the Bank of Canada has reimbursed $100,000 to 14 Canadian Savings Bond customers who were victims of fraud.
In its article, Thieves use Canadian Savings Bond database to steal $100,000, the CBC says the Bank of Canada outsources administration of its payroll savings plan to an IT outsourcing firm, EDS Canada. Employees of the firm stole customer banking data and used it to cash Canadian Savings Bonds belonging to the victims.